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The government will now make a number of prospective areas subject to a cash bidding process which the Treasurer says will ensure that “Queenslanders who own these resources get a fair return".

The transfer of exploration permits will also be hit with a new stamp duty which is expected to raise another $100 million for government coffers. The decisions have infuriated the Queensland Resources Council. QRC chief executive
Michael Roche
denied the Treasurer’s assertion that it was backing the LNP opposition.

He said that the new taxes were being predicated on a flawed assumption that minerals and energy companies were “bottomless cash pits".

“Most small to medium explorers and developers operate on shoestring budgets because of the high-risk nature of their activities," Mr Roche said.

“These are the people the state government has previously said it wants to encourage but again iy has shown no hesitation in loading them up with new charges."

Whitehaven Coal
boss and respected industry veteran Tony Haggarty slammed the introduction of the bidding process and warned the new system would favour big miners.

“In NSW access to resources is extremely constrained and whoever has the biggest chequebook gets the assets," he said.